OKLAHOMA CITY, Feb. 8, 2016 /PRNewswire/ -- After careful
consideration, the Board of Trustees of the Exchange Traded
Concepts Trust has determined to close and liquidate the Janus
Equal Risk Weighted Large Cap ETF (NASDAQ: ERW). Exchange Traded
Concepts, LLC serves as the Investment Adviser and Vident
Investment Advisory, LLC ("Vident") is the Sub-Adviser to ERW.
The last day of trading of the Fund's shares on the NASDAQ will
be February 24, 2016. Shareholders
may sell Fund shares through a broker in the standard manner
through this date. Customary brokerage charges may apply to such
transactions. The Fund will be closed to new investors as of
February 17, 2016. Between
February 17, 2016 and February 25, 2016, the Fund will be in the
process of liquidating its portfolio assets. This will cause the
Fund to increase its cash holdings and deviate from the investment
objective and strategies stated in the prospectus.
Shareholders remaining in the Fund on February 25, 2016 will have their shares redeemed
automatically and will receive cash in an amount equal to the net
asset value of their shares as of the close of business on
February 24, 2016. Any accrued
capital gains or dividends in the fund will be paid out to
shareholders of record as of February 23 and paid on
February 24. The fund will begin
trading Ex-Dividend on February 19.
Shareholders remaining in the Fund on February 25 will not be charged any transaction
fees by the Fund.
Whether shares are sold or are automatically redeemed, they will
generally recognize a capital gain (or loss) equal to the amount
received for shares above (or below) an adjusted cost basis in such
shares.
For additional information, please call 877-583-5624 or visit
www.janus.com/advisor/exchange-traded-funds.
Carefully consider the Funds' investment objectives, risk
factors, charges, and expenses before investing. This and
additional information can be found in the Funds' prospectus, which
may be obtained by calling 877-583-5624, or by visiting
www.janus.com/advisor/exchange-traded-funds. Read the prospectus
carefully before investing.
This information is not an offer to sell or a solicitation of an
offer to buy shares of any Fund to any person in any jurisdiction
in which an offer, solicitation, purchase or sale would be unlawful
under the securities laws of such jurisdiction.
Investing involves risk, including the possible loss of
principal. In addition to the normal risks associated with
investing, narrowly focused investments typically exhibit higher
volatility.
The Fund is distributed by SEI Investments Distribution Co.
("SIDCO"), which is not affiliated with ETC or any of its
affiliates. Exchange Traded Concepts, Vident and SEI Investments
Distribution are not affiliated with Janus or VelocityShares.
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visit:http://www.prnewswire.com/news-releases/exchange-traded-concepts-to-close-and-liquidate-the-janus-equal-risk-weighted-large-cap-etf-300216535.html
SOURCE Exchange Traded Concepts
